Twilio (TWLO) Price Target Raised to $90.00 at Canaccord Genuity

Twilio (NYSE:TWLO) had its price target lifted by Canaccord Genuity from $80.00 to $90.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage presently has a “buy” rating on the technology company’s stock. Canaccord Genuity’s price objective indicates a potential downside of 5.38% from the company’s current price.

Other analysts have also issued research reports about the company. Monness Crespi & Hardt raised their target price on Twilio from $108.00 to $117.00 and gave the company a “buy” rating in a report on Wednesday. Bank of America raised their target price on Twilio from $87.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday. Mitsubishi UFJ Financial Group raised their target price on Twilio to $87.00 and gave the company an “overweight” rating in a report on Wednesday. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $95.00 target price on shares of Twilio in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their target price on Twilio to $84.00 and gave the company an “overweight” rating in a report on Wednesday. One research analyst has rated the stock with a hold rating and twenty have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $79.71.

Shares of NYSE TWLO traded up $24.10 during mid-day trading on Wednesday, reaching $95.12. 23,772,663 shares of the company traded hands, compared to its average volume of 4,606,678. The company has a debt-to-equity ratio of 0.98, a quick ratio of 7.20 and a current ratio of 7.20. The firm has a market cap of $7.24 billion, a price-to-earnings ratio of -121.95 and a beta of 1.00. Twilio has a fifty-two week low of $23.25 and a fifty-two week high of $88.88.

Twilio (NYSE:TWLO) last released its earnings results on Tuesday, November 6th. The technology company reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.04. The firm had revenue of $168.90 million for the quarter, compared to analyst estimates of $151.62 million. Twilio had a negative return on equity of 21.41% and a negative net margin of 18.29%. The company’s revenue was up 68.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.08) EPS. As a group, equities research analysts forecast that Twilio will post -0.77 earnings per share for the current year.

In other Twilio news, CEO Jeff Lawson sold 20,830 shares of the firm’s stock in a transaction that occurred on Thursday, October 18th. The stock was sold at an average price of $71.67, for a total value of $1,492,886.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Karyn Smith sold 939 shares of the firm’s stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $74.55, for a total value of $70,002.45. The disclosure for this sale can be found here. Insiders sold a total of 184,477 shares of company stock valued at $14,711,857 in the last quarter. Corporate insiders own 19.80% of the company’s stock.

Several hedge funds have recently made changes to their positions in the business. Oppenheimer & Co. Inc. lifted its position in shares of Twilio by 14.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 7,990 shares of the technology company’s stock worth $689,000 after acquiring an additional 995 shares during the period. Xact Kapitalforvaltning AB lifted its position in shares of Twilio by 9.8% during the 3rd quarter. Xact Kapitalforvaltning AB now owns 11,188 shares of the technology company’s stock worth $966,000 after buying an additional 1,000 shares during the period. Kopp Investment Advisors LLC lifted its position in shares of Twilio by 1.8% during the 2nd quarter. Kopp Investment Advisors LLC now owns 69,125 shares of the technology company’s stock worth $3,872,000 after buying an additional 1,240 shares during the period. Peloton Wealth Strategists lifted its position in shares of Twilio by 4.7% during the 2nd quarter. Peloton Wealth Strategists now owns 28,690 shares of the technology company’s stock worth $1,607,000 after buying an additional 1,290 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its position in shares of Twilio by 14.9% during the 3rd quarter. Public Employees Retirement Association of Colorado now owns 10,773 shares of the technology company’s stock worth $929,000 after buying an additional 1,396 shares during the period. Institutional investors own 57.29% of the company’s stock.

Twilio Company Profile

Twilio Inc provides a cloud communications platform that enables developers to build, scale, and operate communications within software applications in the United States and internationally. The company's programmable communications cloud provides a set of application programming interfaces that enable developers to embed voice, messaging, and video capabilities into their applications.

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